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You can rebuild your credit after bankruptcy

When you’re dealing with overwhelming debts, filing for bankruptcy in Florida may be the best solution. Bankruptcy can stop the flood of threatening calls and letters from creditors and put a hold on any creditor actions that are taking place like foreclosure and wage garnishment. Although bankruptcy can negatively impact your credit score initially, the discharge process may ultimately lead to better credit.

Many people think that a bankruptcy filing will unalterably damage their credit score. In reality, bankruptcy could have a positive effect on your credit score, especially if you had a very poor debt-to-credit ratio before you filed. A large part of credit scoring is based on how much debt you have compared to your available credit, and bankruptcy can help you to improve this ratio.

If bankruptcy lowers your credit score, there are many things that you can do to mitigate that damage and start rebuilding your credit. Rebuilding a good credit score after bankruptcy requires a commitment to credit repair strategies as well as a commitment to a healthier financial lifestyle. If your credit is damaged, it may be tempting to go to a credit counseling company or a debt negotiation firm. While these companies promise results, they usually don’t deliver, and their ‘solutions” may even lower your credit score.

Our lawyers can help you to eliminate debt and find real solutions to your credit problems after a bankruptcy filing. Over the last 30 years, we have helped thousands of people to file for bankruptcy and then repair their credit. To learn more about the services we offer, you are invited to visit our credit repair page.

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